BTC spot premium is still in the negative range, while the futures market open interest has not shown a significant decline, indicating that bulls have not closed their positions;

From a technical perspective, the current price is near the lower edge of the left interval, which theoretically will provide some support for a period of time;

There has been a supply of 80,000 BTC in the BTC market, which seems to have led to a significant number of short-term spot holders selling out. Before the premium returns to positive or significantly increases, we will continue to observe range fluctuations;

The gap at CME can be filled, but it must be quickly reclaimed, otherwise there is still a possibility of forming a large door...